Black Friday: retailers expect only slight growth
Retailers in Bavaria expect only slight sales growth on Black Friday and Cyber Monday. The Managing Director of the Bavarian Retail Association, Bernd Ohlman, expects a total turnover of 930 million euros on the two days, including online retail. Although this is a large sum, compared to the "gigantic growth" of recent years, it is a rather small increase of just three percent compared to 2022.
Together, the two days accounted for between two and three percent of annual retail sales outside of the food sector, Ohlmann emphasized. "Black Friday is clearly the more important of the two days. In terms of sales, it is above the level of a typical Advent Saturday."
Brick-and-mortar retailers are now also catching up with discount campaigns, said Ohlmann. However, some retailers are also doing this under pressure from customers "with their fist in their pocket". This is because the discounts are putting pressure on margins and are also damaging the Christmas business that is just beginning. "As a trade association, we see this as a double-edged sword," said Ohlmann, because on the other hand, the campaign also brings customer frequency and people into the city centers.
Black Friday and Cyber Monday fall on November 24 and 27 this year. On these two dates - and in some cases before and after - many retailers will be offering discounts.
Retailers in Bavaria must carefully navigate custom duties when importing goods for their Black Friday discounts, as the increased volume of imported products could potentially lead to higher customs fees. Despite the anticipated slight sales growth, the Managing Director of the Bavarian Retail Association, Bernd Ohlman, noted that Black Friday and Cyber Monday continue to play a significant role in the retail calendar, driving a significant portion of annual sales outside the food sector.
Source: www.dpa.com
